Colliers business falls 17% due to 2008 crisis
10 February 2009
Colliers International real estate advisory company, with a 50% market share in the domestic market, posted EUR 18 million in turnover in 2008, down 17% year-on-year, due to the international financial crisis, the company said.
''The global financial crisis affected mainly sales markets – residential, land, and investments – which, in 2008, dropped substantially, while rental markets, where companies think strategically and on the long-term, continued to have an upward trend,'' said the Managing Partner of Colliers International, Bogdan Georgescu.
He added that he cannot make forecasts regarding this year’s results in the current market conditions. ''I think the way for overcoming the crisis is not just cutting costs, but especially understanding phenomena and real opportunities in the economy.
That is why, in 2009, we will continue to invest in education, and the professional development of all employees within the company, to be able to consolidate our leading position on the Romanian real estate consultancy market,'' said Georgescu.
<<< back to Romanian news >>>
International Property News
Latest World News